Breaking news! CPI for the December quarter has come in at zero with annual rate 3.1%. Bullhawks are stupified. The RBA stumped. I did warn you’ve nothing to worry about on the inflation front this year but, frankly, this figure looks slightly disturbing, hinting at quite some underlying economic weakness. Offering more hope was the trimmed mean measure at 0.6% with an annual rate of 2.6%.
Here’s the headline data:
DECEMBER KEY FIGURES
 | |
Sep Qtr 2011 to Dec Qtr 2011 |
Dec Qtr 2010 to Dec Qtr 2011 |
| Weighted average of eight capital cities |
% change |
% change | |
|
| |||
| All groups CPI |
0.0 |
3.1 | |
| Food and non–alcoholic beverages |
-1.5 |
2.5 | |
| Alcohol and tobacco |
0.9 |
3.1 | |
| Clothing and footwear |
-0.5 |
2.6 | |
| Housing |
0.4 |
4.0 | |
| Furnishings, household equipment and services |
0.1 |
0.2 | |
| Health |
-1.2 |
3.6 | |
| Transport |
0.0 |
4.0 | |
| Communication |
1.1 |
1.6 | |
| Recreation and culture |
0.8 |
0.5 | |
| Education |
0.0 |
5.8 | |
| Insurance and financial services |
0.6 |
5.6 | |
| CPI analytical series | | | |
| All groups CPI, seasonally adjusted |
0.2 |
3.0 |
| Trimmed mean |
0.6 |
2.6 |
| Weighted median |
0.5 |
2.6 |
And a couple of cheap and cheerful charts, QOQ:
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And YOY:
More to come…
